Zcash is doomed to fail

I am a big fan of cryptocurrencies and especially Bitcoin for what they stand for. Usually new coins try to offer something new or something better to the community. Some are lighter, some use mining algorithms that prevents the use of specialized hardware in order to keep the mining distributed and some offer better anonymity. Most coins are just clones of others in order for the creators to make some fast and easy cash. Some of them are coming with a number of pre-mined coins that the creator usually holds and gives some for marketing purposes or they are announced in a later stage where many of them are already mined. In any case those crypto-coins are giving nothing to the community and the world.

In case of Zcash it is something similar. A crypto-coin created by a company, instead of the community and the 20% of the initial mining will go to the investors. This coin comes with funding and they’ve spent a lot of money for marketing purposes. Its price, either from correct marketing or some weird games in its first release day hit some crazy numbers. Of course that one can not hold and it will crash like crazy, it is on its way as I write this. If a company is behind it, it means that they can control it which is the exact opposite of the ideology of having a crypto-currency. Also, they can hard-fork any time they want if that serves the investors. Not a mainstream coin at all.

Of course it can get some value due to the hype and the ones that want some fast and easy money. It is one of the best pump and dump examples. In any case, personally I will not touch this coin and I write this article to warn others not to touch it also. You will loose money. The best crypto-coin was and still is Bitcoin. If you are new to this space and you want to invest, choose Bitcoin. It is the most stable, well tested and most used crypro-currency out there.

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UPDATE:
I can see that after the initial hype they are trying to keep it from crashing. Why anyone use this coin? There are other coins with security, Monero is already accepted by some websites. In addition, people who don’t like loosing 20% of their mining are considering cloning it and removing this restriction. That clone might have better chances!